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§ Private Profile · 323 Allerton Avenue, South San Francisco, CA 94080
Clinical-stage biotechnology company developing cancer immunotherapies for oncology patients, focused on CD47 checkpoint inhibition.
ALX Oncology is a clinical-stage immuno-oncology company based in South San Francisco, California, that develops therapies targeting the CD47 immune checkpoint pathway to treat cancer. The biotechnology firm focuses on its lead product candidate, evorpacept, which is designed to help the immune system recognize and destroy cancer cells across multiple solid tumors and hematologic malignancies. Operating as a publicly traded entity under the ticker ALXO, the organization maintains a workforce of approximately 100 employees. The enterprise raised $162 million during its 2020 IPO and secured an additional $100 million through a public stock offering in late 2023, backed by early investors like Lightstone Ventures. To advance its clinical development programs, the company has established strategic trial partnerships with pharmaceutical corporations including Eli Lilly and Merck. ALX Oncology was founded in 2015 by Jaume Pons and Corey Goodman.
ALX Oncology has raised $146.0M across 2 funding rounds.
ALX Oncology has raised $146.0M in total across 2 funding rounds.
ALX Oncology has raised $146.0M across 2 funding rounds. Most recently, it raised $110.0M Series C in February 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2020 | $110M Series C | Vivo Capital | Bigspring, Earlybird Venture Capital, Mohr Davidow Ventures, Morgenthaler Ventures, Carol Gallagher, VenBio Partners, Versant Ventures, BVF Partners, Cormorant Asset Management, Foresite Capital, HBM Healthcare Investments, Janus Henderson Investors, Lightstone Ventures, Logos Capital | Announced |
| Mar 1, 2015 | $36M Series A | — | Bigspring, Mohr Davidow Ventures, Morgenthaler Ventures, Carol Gallagher, VenBio Partners | Announced |
ALX Oncology has raised $146.0M in total across 2 funding rounds.
ALX Oncology's investors include Vivo Capital, BigSpring, Earlybird Venture Capital, Mohr Davidow Ventures, Morgenthaler Ventures, Carol Gallagher, venBio, Versant Ventures, BVF Partners, Cormorant Asset Management, Foresite Capital, HBM Healthcare Investments.
ALX Oncology is a publicly traded, clinical-stage biopharmaceutical company focused on developing therapies that harness the immune system to treat cancer, particularly through CD47 blockade.[1][3][4] Its lead candidate, evorpacept, is a differentiated CD47 inhibitor designed to minimize toxicities while enhancing immune response against tumors, showing improved response rates in trials like ASPEN-06 for HER2+ gastric cancer and advancing across solid tumors and hematologic cancers in combination therapies.[1][2][4] The company serves cancer patients with advanced malignancies, solving the problem of immune evasion by cancer cells via CD47 signaling, with over 700 patients treated to date and a new pipeline addition, ALX2004, an EGFR-targeted antibody-drug conjugate (ADC) cleared for Phase 1 trials in mid-2025.[3][5] Growth momentum includes robust clinical data, multiple ongoing trials, and expansion into ADCs via proprietary platforms.[1][3][6]
ALX Oncology was founded to pioneer highly differentiated immuno-oncology medicines, starting with evorpacept (previously ALX148) as a next-generation CD47 blocker—a fusion protein of SIRPα and an inactive Fc region to avoid prior agents' toxicities.[1][2] Emerging from extensive preclinical research validating CD47's role in cancer immune evasion, the company gained early traction through Phase 1/2 trials enrolling over 700 patients, demonstrating tolerability and efficacy signals across tumor types.[1][4] Key pivots include broadening evorpacept's combinations with standard therapies and, in March 2025, introducing ALX2004 from its linker-payload platform for EGFR-expressing solid tumors, marking entry into ADCs.[3][5] Backed by investors like Foresite Capital, ALX has evolved from a CD47-focused biotech to a pipeline immuno-oncology player headquartered in South San Francisco.[2][3]
ALX Oncology rides the immuno-oncology wave, capitalizing on CD47 as a myeloid checkpoint exploited by >80% of cancers to dodge phagocytosis, amid surging demand for combination therapies post-PD-1/PD-L1 successes.[1][2] Timing aligns with ADC resurgence (e.g., ALX2004) and immune synergy needs, fueled by market forces like rising solid tumor incidence and FDA nods for CD47 combos.[3][5] By validating evorpacept's safety in large cohorts, ALX influences standards of care, potentially enabling "cornerstone" roles in regimens and accelerating CD47/ADC adoption in the $100B+ oncology market.[1][4]
ALX Oncology's path forward hinges on evorpacept readouts from Phase 2/3 trials and ALX2004's Phase 1 data in 2026, with potential partnerships amplifying combos amid immuno-oncology maturation.[1][3][6] Trends like multi-checkpoint inhibition and ADC-linker advances will shape it, possibly evolving ALX into a multi-asset leader if efficacy holds. This positions them to deliver on cancer's immune promise, transforming evorpacept from differentiated asset to ecosystem cornerstone.[1][4]